Business

$20 million for James Murdoch's
by Zuzana Krskova

James Murdoch is supposed to receive a base salary of $3.4 million and in annual bonuses he could earn another $ 16 million. Bonuses are a part of his promotion to News Corp's (NWSa.N) head of European and Asian operations. News Corp promoted James Murdoch is going to run the media company's operations in Europe and Asia. He is following the line of success as his father, Rupert Murdoch. Murdoch became last year a chairman and chief executive of Europe and Asia at News Corp. His tasks were its broadcasting, print and Internet divisions, Hong Kong- based Star TV, Britain's Sun newspapers and Sky Italia. He is also in his age 30 the youngest chief executive in FTSE 100 history. Murdoch's pay in his new job can climb up to $3.4 million base salary, with a cash bonus up to $3.4 million for his performance of his operating divisions and a stock and cash bonus of up to $12.5 million based on News Corp's earnings. Murdoch is expected to heir his father's vast global media empire some day. He will also participate in the company's 2005 long-term incentive plan for which he could get performance &based or discretionary awards. As a part of it he also gets 400,000 cash-settled RSUs, and the performance-based bonus, with opportunity of 75 percent (and a maximum opportunity of 100 percent)base salary. All paid in cash. On the other site, he will not receive any additional compensation for his service as a member of the company's board. It is not a secret, that his appointment annoyed a group af City investors, who think that new arrangement gives too much control to NewsCorp.

by Zuzana Krskova for PocketNews (http://pocketnews.tv)

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posted by Blog TechSource @ 3:46 PM